Indian Markets Expected to Open Flat on Oct 11, 2024

11 Oct 2024 , 09:11 AM

On October 11, Indian benchmark indices Sensex and Nifty 50 are anticipated to start on a flat to negative note, influenced by GIFT Nifty trading around 25,084 earlier this morning.

On October 10, the Indian markets struggled to maintain higher intraday levels, concluding with modest gains in a rangebound session. The Nifty closed in the green, albeit below the 25,000 mark, buoyed by gains in metal and banking sectors.

At the end of the trading day, the Sensex rose by 144.31 points, or 0.18%, settling at 81,611.41, while the Nifty gained 16.50 points, or 0.07%, to finish at 24,998.50.

In the Asian markets, there was a positive trend, diverging from the previous evening’s performance on Wall Street, where key indices faced declines as investors reacted to persistent inflation concerns in the U.S. The Dow Jones Industrial Average slipped by 57.88 points, or 0.14%, to 42,454.12; the S&P 500 decreased by 11.99 points, or 0.21%, to 5,780.05; and the Nasdaq Composite fell by 9.57 points, or 0.05%, to 18,282.05.

Foreign institutional investors (FIIs) continued their selling spree on October 10, offloading equities worth ₹4,926 crore. In contrast, domestic institutional investors remained active buyers, purchasing equities valued at ₹3,878 crore on the same day.